Idemitsu Kosan Invests in Quaise Energy's Geothermal Drilling Technology
Idemitsu Kosan has invested in Quaise Energy to enhance low-carbon energy initiatives, focusing on advanced geothermal technologies. This partnership aims to expand geothermal energy extraction capabilities, addressing increasing global electricity demand.
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Idemitsu Kosan Co. has invested in Quaise Energy, Inc. to advance its low-carbon energy portfolio through innovative geothermal technologies. The investment, made via Idemitsu Americas Holdings, aims to leverage Quaise's millimeter-wave drilling technology, targeting depths of 20 kilometers and temperatures of 300 to 500 degrees Celsius, surpassing conventional geothermal limits.
Quaise's technology is designed for Enhanced Geothermal Systems (EGS), enabling geothermal development in areas lacking natural hydrothermal resources. This collaboration aligns with Idemitsu's medium-term goals, which include a commitment to invest 1.8 trillion yen and achieve significant CO2 reductions by 2030, highlighting the strategic importance of geothermal energy in future energy security.
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